سیاسة

rss

كوردســتانيات

أمـن

مجتـمع

أخرى

اقتصـاد

عربي ودولي

القسم الفيلي

ريـاضة

منوعـات

فيديو

تقارير وتحليلات

مقـالات

كل الاخبار

Oil demand inches up fueled by COVID-19 vaccine hopes

Category: Economy

Date: 2020-12-14T05:50:07+0000
Oil demand inches up fueled by COVID-19 vaccine hopes

Shafaq News/ Oil prices rose on Monday, pushing Brent back above $50 a barrel, spurred by hopes that a rollout of COVID-19 vaccines will lift global fuel demand.

Brent crude futures for February rose 33 cents, or 0.66%, to $50.30 a barrel by 05:18 GMT, while U.S. West Texas Intermediate crude futures for January were up 29 cents, or 0.62%, at $46.86 a barrel.

Oil prices have rallied for six consecutive weeks, their longest stretch of gains since June.

The United States kicked off its vaccination campaign against COVID-19, buoying hopes that pandemic restrictions could end soon and lift demand at the world’s largest oil consumer.

Major European countries continued in lockdown mode to curb the spread of COVID-19, which has reduced fuel demand. For example, Germany, the fourth-largest economy globally, plans to impose stricter lockdown from Wednesday to battle the virus.

Investors are looking ahead to two meetings between the Organization of the Petroleum Exporting Countries and its allies, including Russia, a grouping known as OPEC+.

The OPEC+ joint ministerial monitoring committee (JMMC) that monitors compliance among members will meet on Dec. 16, while OPEC+ will meet on Jan. 4 to study the market after their last decision to limit production rises to 500,000 barrels per day starting next year.

related

Oil drops to below $66, lowest since May, on demand concerns

Date: 2021-08-19 16:04:15
Oil drops to below $66, lowest since May, on demand concerns

Oil steadies after slumping on COVID-19 fears, OPEC+ deal

Date: 2021-07-20 06:18:09
Oil steadies after slumping on COVID-19 fears, OPEC+ deal

Oil drops with surging COVID-19 cases raising doubts on demand

Date: 2021-04-19 08:54:16
Oil drops with surging COVID-19 cases raising doubts on demand

Oil slumps 7% as U.S. plans record crude reserve release

Date: 2022-03-31 21:00:17
Oil slumps 7% as U.S. plans record crude reserve release

Oil climbs on hopes for demand recovery; India's virus surge caps gains

Date: 2021-04-23 08:03:27
Oil climbs on hopes for demand recovery; India's virus surge caps gains

Iraq raises its crude oil production, OPEC's October report showed

Date: 2020-10-15 07:36:09
Iraq raises its crude oil production, OPEC's October report showed

Oil mixed, but solid U.S. demand underpins sentiment

Date: 2021-10-21 05:54:55
Oil mixed, but solid U.S. demand underpins sentiment

OPEC: July oil production reaches 28.896 million bpd

Date: 2022-08-13 07:33:33
OPEC: July oil production reaches 28.896 million bpd